It is axiomatic that an investment adviser is duty bound to act in the best interest of the client. This means in part that the adviser must put the interests of the client before their personal interests. Indeed, investment advisers …
Tag: fiduciary duty
First SEC Case Re Dodd-Frank Municipal Fiduciary Duty Provision
The Commission brought its first action based on Exchange Act Section 15B(c)(1) as amended by Section 275 of Dodd-Frank. Under that provision municipal advisors and their associated persons have a fiduciary duty to their municipal entity clients and are prohibited …
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